Musk’s Tweet Spurred Space Growth for The Wrong Company | R Blog RU

If you have long been tormented by an important question about how you can send quotes of a small company into space, then we recommend contacting Elon Musk. Not without his participation, Signal Advance securities rose in price by 6350%. Want more details? We, too.

What is it about?

On January 7, Elon Musk on his Twitter very succinctly and unequivocally recommended using the Signal messenger. A successful businessman will not give bad advice, so people not only began to install this application en masse, but also decided to buy up shares in the developer company.

Signal Advance securities were sold at $ 0.6 on January 6, and the next day their value increased to $ 3.76, having risen in price by 526.67%. The growth did not stop there: on January 11, the price tag reached $ 38.7. Thus, Mr. Musk’s tweet triggered a 6,350% jump in the firm’s stock.

But there is one caveat: “Signal Advance” has nothing to do with the messenger. This company develops technologies for healthcare. And the application for free online telephony and instant messaging was created by the Signal Foundation, which is not on the exchange at all. How do you like that, Elon Musk?

When the developer company explained the situation on Twitter, would-be investors rushed to get rid of the acquired Signal Advance shares and dropped its quotes by 74.16%, to $ 10 per share. The firm’s stock chart now resembles the spire of a Catholic cathedral.

What caused the Tesla CEO’s interest in the messenger?

We assume that the tweet of the newly minted richest man in the world has gained such relevance and popularity amid growing audience resentment against WhatsApp. Recall that on January 7, the online platform updated the user agreement, according to which personal data of users will now be transferred to Facebook.

WhatsApp assures that it is not about transferring the content of chats. Say, “Facebook” will receive only some information – for example, users’ phone numbers, their IP-addresses, data on transactions and interaction with other legal entities and individuals. To continue using WotsApp, you will need to accept the new rules by February 8, 2021.

How did the audience and the market react?

According to the Sensor Tower analytical platform, from January 6 to 10, Telegram messenger was installed on 5.6 million devices worldwide. According to the research company Apptopia, Signal statistics for the same period are even steeper – 7.5 million downloads. In other words, for those wishing to communicate via online platforms, it was not difficult to find an alternative to WhatsApp.

As for the market, its reaction to the updated user agreement was also immediate. From January 6 to 12, shares of Facebook, which owns WhatsApp, fell 6.6%, from $ 263.3 to $ 251.1 per share.

Summing up the result

One tweet and Signal Advance quotes soared 6350%. The company’s capitalization jumped from $ 55 million to $ 1.4 billion in a few days. Isn’t it a New Year’s miracle?

Fortunately or unfortunately, the story of an accidental and from this even more spectacular growth in the value of Signal Advance shares is not the first and not the last. Yes, there are so many such cases that a separate collection suggests itself. Write in the comments, it would be interesting for you to familiarize yourself with the top 5 such incidents.

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